HomeMy WebLinkAboutResolution - 2011-R0342 - Approve Service Plan For Valencia PID - 08/11/2011Resolution No. 2011—R0342
August 11, 2011
Item No. 5.2
RESOLUTION AND ORDER
WHEREAS, the City of Lubbock in Resolution 2011-R0310 has
authorized the creation of the Valencia Public Improvement District pursuant to
the Texas Public Improvement District Assessment Act; and
WHEREAS, the City desires to apportion the cost of improvements and
services to be assessed against the property in the improvement district on the
basis of special benefits accruing to the property because of the improvements or
services and to establish the methods of assessing the special benefits for various
classes of property; and
WHEREAS, the City of Lubbock desires to schedule a public hearing in
accordance with Section 372.016 of the Texas Local Government Code to
consider the proposed assessments for designing, constructing and maintaining
parks and green space together with any ancillary structures, features or
amenities such as playgrounds, athletic facilities, pavilions, community
facilities, irrigation, walkways, lighting, benches, trash receptacles and any
similar items located therein along with all necessary grading, drainage, and
similar infrastructure involved in the maintenance of such parks, green spaces;
landscaping, hardscape and irrigation; including costs of establishing,
administering and operating the District, all in accordance with the Act; NOW,
THEREFORE,
BE IT ORDERED AND RESOLVED BY THE CITY COUNCIL OF THE
CITY OF LUBBOCK:
SECTION 1: THAT the Service Plan which contains an Assessment
Plan for the Valencia Public Improvement District is hereby approved by the
City Council of the City of Lubbock. Said Plan is attached as Exhibit "A" and
incorporated herein as if fully set forth; and
SECTION 2: THAT City staff is hereby directed to prepare a proposed
Assessment Roll stating the assessment against each parcel of land in the district
as determined by the Assessment Plan; to file the proposed assessment roll with
the City Secretary; and to make the proposed assessment roll available for public
inspection; and
SECTION 3: THAT a public hearing is hereby scheduled at 9:30 am,
Thursday, August 25, 2011, in the City Council Chambers, 1625 131h Street,
Lubbock, Texas, to consider the proposed assessments and receive public
comment; and
SECTION 4: THAT notice of said hearing shall be published in a
newspaper of general circulation in the city before the tenth day before the date
of the hearing as required by state law; and
SECTION 5: THAT the notice shall contain the date, time and place of
the hearing; the general nature of the improvements and services; the cost of the
improvements and services; the boundaries of the assessment district; and a
statement that written or oral objections will be considered at the hearing; and
SECTION 6: THAT when the assessment roll is filed, the City staff is
directed to mail to the last known address of each property owner liable for
assessment (as reflected on the tax rolls) a notice of the hearing containing, at a
minimum, the information contained in the published notice.
Passed by the City Council this 11th day of August 2011.
,-I-, A
TOM MART,MAYOR
ATTEST:
Rebec6a Garza, Secr
APPROVED AS TO CONTENT:
Andy
Chief Financial Officer
APPROVED AS TO FORM:
Linda L. Chamales,
Economic Development Attorney
LC: ecdoc RES -Valencia PID Ow,ficolion Rcs and..,c unmherring
July 20, 2011
Resolution No. 2011—R0342
Exhibit "A"
flLi city Of
ubbock
TEXAS
VALENCIA PUBLIC IMPROVEMENT DISTRICT
CITY OF LUBBOCK, TEXAS
SERVICE AND ASSESSMENT PLAN
August 11, 2011
City of Lubbock, Texas
Finance Department
Valencia Public Improvement District
Service and Assessment Plan
August 11, 2411
TABLE OF CONTENTS
Section I
Plan Description and Defined Terms
Section II
Property included in the PID
Section III
Improvement Project
Section IV
Sources and Uses of Funds
Section V
Assessment Plan
Section VI
Terms of the Assessments
List of Exhibits
Exhibit A
The PID Map
Exhibit B
Maintenance and Services
Exhibit C
Assessment Roll
City of Lubbock, Texas
Finance Department
Valencia Public Improvement District
Service and Assessment Plan
August 11, 2011
Section I
Plan Description and Defined Terms
A. Introduction
Chapter 372 of the Texas Local Government Code, Improvement Districts in Municipalities and
Counties" (as amended, the "PID Act"), governs the creation of public improvement districts
within the State of Texas. The City of Lubbock created the Valencia Public Improvement
District (the "PID") to maintain the public improvements associated with the Valencia planned
development and for the benefit of certain property in the PID, all of which is located within the
City. (Capitalized terms used herein shall have the meanings ascribed to them in Section I.13 of
this Service and Assessment Plan.)
This Service and Assessment Plan has been prepared pursuant to Sections 372.013, 372.014,
372.015 and 372.016 of the PID Act. According to Section 372.013 of the PID Act, a service
plan "must cover a period of at least five years and must also define the annual indebtedness and
the projected costs for improvements. The plan shall be reviewed and updated annually for the
purpose of determining the annual budget for improvements." The service plan is included in
Section IV of this Service and Assessment Plan.
Section 372.014 of the PID Act states that "an assessment plan must be included in the annual
service plan." The assessment plan is described in Section V of this Service and Assessment
Plan.
Section 372.015 of the PID Act states that "the governing body of the municipality or county
shall apportion the cost of an improvement to be assessed against property in an improvement
district." The method of assessing the Costs of the improvements to the property in the PID is
included in Sections V and VI of this Service and Assessment Plan.
Section 372.016 of the PID Act states that "after the total cost of an improvement is determined,
the governing body of the municipality or county shall prepare a proposed assessment roll. The
roll must state the assessment against each parcel of land in the district, as determined by the
method of assessment chosen by the municipality or county under this subchapter." The
Assessment Roll for the PID is included as Exhibit C of this Service and Assessment Plan. The
Assessments as shown on the Assessment Roll are based on the method of assessment described
in Section V of this Service and Assessment Plan.
The City Council shall make all determinations necessary herein.
The City Council intends for the obligations, covenants and burdens on the owner of the
Assessed Property, including without limitation such owner's obligations related to the payment
of the Assessments, to constitute a covenant running with the land. The Assessments levied
hereby shall be binding upon the owners of Assessed Property, and their respective transferees,
2
City of Lubbock, Texas
Finance Department
Valencia Public Improvement District
Service and Assessment Plan
August 11, 2011
legal representatives, heirs, devisees, successors and assigns. The Assessments shall have lien
priority as specified in the PID Act.
This Service and Assessment Plan provides for maintenance of improvements benefiting the
entire area of the Valencia PID
B. Definitions
The terms used herein shall have the following meanings.
"Annual Service Plan Amendment" has the meaning set forth in the first paragraph of Section IV
of this Service and Assessment Plan.
"Assessed Property" means, for any year, parcels within the PID.
"Assessment" means, with respect to each Parcel, the assessment imposed against such Parcel
pursuant to the Assessment Ordinance and the provisions therein, as shown on the Assessment
Roll, subject to reallocation among Parcels and reduction according to the provisions herein and
the PID Act.
"Assessment Ordinance" means the Assessment Ordinance approved by the City Council
approving and adopting this Service and Assessment Plan.
"Assessment Roll" means the document included in this Service and Assessment Plan as Exhibit
C, as updated, modified, or amended annually in accordance with the procedures set forth herein
and in the PID Act.
"City" means City of Lubbock, Texas.
"City Council" means the duly elected governing body of the City.
"Costs" mean the actual or budgeted costs, as applicable, of all or any portion of the maintenance
of the public improvements, operation, and other supplemental services, as described in Exhibit
B of this Service and Assessment Plan.
"Developer" means Betenbough Homes, Inc.
"Improvement Project" means the maintenance of the public improvements that will provide a
special benefit to the property in the PID and described in Exhibit B of this Service and
Assessment Plan and Section 372.003 of the PID Act.
"Parcel" means a parcel identifed by either a tax map identification number assigned by the
Lubbock County Appraisal District for real property tax purposes or by lot and block number in
3
City of Lubbock, Texas
Finance Department
Valencia Public Improvement District
Service and Assessment Plan
August 11, 2011
a final subdivision plat recorded in the real property records of Lubbock County, Texas or
identified by any other reasonable means determined by the City Council.
"PID" has the meaning set forth in the second paragraph of Section I.A of this Service and
Assessment Plan.
"PID Act" means Texas Local Government Code Chapter 372, Improvement Districts in
Municipalities and Counties, Subchapter A, Public Improvement Districts, as amended.
"PID Map" means the map included as Exhibit to the Service and Assessment Plan identifying
the property included in the PID.
"Service and Assessment Plan" means this Service and Assessment Plan prepared for the PID
pursuant to Section 372.013, 372,014, 372.015, and 372.016 of the PID Act.
Section II
Property Included in the PID
The PID is located in the City of Lubbock, Texas. A map of the property included in the PID is
shown on Exhibit A to this Service and Assessment Plan.
The 39.9 acre development is expected to consist of approximately 80 residential units, parks and
associated rights of way, landscaping, and infrastructure.
An explanation of the method of assessing property is included in Section V.
Section III
Description of the Improvement Project
The general nature of the proposed public improvements is: (i) maintenance of Parks and green
spaces together with any ancillary structures, features or amenities such as playgrounds, athletic
facilities, pavilions, community facilities, irrigation, walkways, lighting, benches, trash
receptacles and any similar items located therein along with all necessary grading, drainage, and
similar infrastructure involved in the maintenance of such parks and green spaces; landscaping,
hardscape and irrigation; and (ii) costs of establishing, administering and operating the District.
The District is to supplement and enhance services within the District, but not replace or supplant
existing City services provided within the District.
The public improvements will be constructed by the Developer with no reimbursement from the
PID. After analyzing the maintenance, operation, and other supplemental services related to the
Public Improvements, the City has determined that the maintenance of the public improvements
authorized by the PID Act, shown in Exhibit B, should be performed by the City and has further
4
City of Lubbock, Texas
Finance Department
Valencia Public Improvement District
Service and Assessment Plan
August 11, 2011
determined that these maintenance activities will be of special benefit to all the Assessed
Property within the PID.
A. Maintenance of Public Improvements
The cost of the maintenance, operation and other supplemental services to be funded through
assessments on Assessed Property is estimated at $4,500 in the second year and increases to
$18,774 in the 4`h year, with 2 percent annual growth thereafter. The budget for the
maintenance, operation, and other supplemental services will be determined annually by the City
and will be included in a Service Plan Amendment along with amendments to the Assessment
Roll reflecting assessments (the "Maintenance Assessment") based on such budget for
maintenance, operation and necessary supplemental services.
Section IV
Sources and Uses of Funds
Section 372.013 of the PID Act requires this Service and Assessment Plan to "cover a period of
at least five years and must also define the annual indebtedness and the projected costs for
improvements. The plan shall be reviewed and updated annually for the purpose of determining
the annual budget for maintenance." Such annual update to this Service and Assessment Plan is
herein referred to as the "Annual Service Plan Amendment." The Valencia PID will have no
indebtedness and the PID assessments will fund the maintenance of the public improvements,
operation, and other supplemental services. The table below shows estimated sources and uses
of funds including the projected cost of maintaining the public improvements.
C.Ird.r Yor^
2611
1912
1013
2414
3815
2016
1617
3018
M$
T.hh
Propml V"..
f
1.240.000
6,76/.1x1
11.500.096
19,1"09S
21,917,100
22.)55,442
12.602.531
21,116.60I
11350,602
Dhoo4xte6 Aopmy Veb m 29 9053
-
1.016,000
6,031,130
I I.ISOA16
1015.033
19,725,190
20,119,091
20,522,296
10,912,741
20,932,742
Pl.nl Ynr
2011•11
2012•13
2013.16
1414 -IS
! MI&
2016.17
2017-18
2018.19
2019.10
TOWS
11.7114..
1W=1[WRIAp,
f
44
89
s0
39
91
145
201
659
A, pm A It SO.I I
2.213
6.697
12.175
10,167
21,698
22.02
22375
23.016
121.997
To1.1
f
1,218
6,742
IIA64
11,117
11,7]7
22.111
11,719
11,117
IMM
[19325340
3702 S1,M Pot'T-1 A' 1.13 Awe.
M..Z-of Put
f
-
4,490
1,6W
4.933
9,010
9.190
9.)74
49.556
M.w.trns of 1..t,D kc m)
tM)
1,IW
5121
4.4.44
11.113
0702 ayM Mame TeM B' 07 Atm
SLammesdMo4_
-
-
2.111
2.165
2.208
2131
1391
2.144
11,790
hh vsnaccdvcfimDnsWpe71
2a.t
2!>a
Snal
6.02
M.trt9 CM,
-
2.000
1040
2.031
2.122
2,165
2.202
225I
14.069
hlxmigr4LmCo-di
S00
1.671
1.707
1,741
1,776
1,111
1,147
11.0$5
Anew1(kmhext(Am
4,000
4.010
4,161
4,241
4.130
4,416
4,505
19,717
11•CADCoWim Coq W Cost of a tin#
.,.oaxal.-h )-)
M•tnlanrce Coq, PO4 Ml)nslaoer
Mx441
410.200)
412.44)
(4001
(16604)
T441
f
J,SN
14A46
18.774
19,149
19332
11.933
!0232
11666)
C..►It w.7w
1.218
4.451
2.517
1.960
4"
_ 7.M
44.0]4
11.149
11"
-hop.7 V.W, pow om-2%-Ib
^ Ytu lhtl mrool,7{itlUon7i41rp%fmxtl.k roll
5
City of Lubbock, Texas
Finance Department
Valencia Public Improvement District
Service and Assessment Plan
August 11, 2011
The sources and uses of funds table is subject to revision each year.
Section V
Assessment Plan
The PID was created and the assessment is being levied pursuant to Section 372.015 of the PID
Act, "Determination of Assessment."
A. Allocation of assessment
• Properties will be assessed based on the City's 2012 "net taxable value" as established by
the Lubbock Central Appraisal District and submitted to the City under Tax Code Section
26.04.
• Assessment will be $0.11 per $100 valuation
• All property will be assessed based on the final 2012 "net taxable value".
Section VI
Terms of the Assessments
The annual assessment for each parcel within the PID shall be shown on the assessment roll.
The amount of the assessment could change each year when the Service and Assessment Plan are
adopted due to increased value on a parcel or the estimated cost of maintaining the public
improvements, repair or replacement costs, and operational or administrative costs.
6
Y,t
AAV NOJ
t
Cek9 V.,
Po Val—'
OumwnW Pmpnty Values @ 90°A
FV Yoe
Revmua
lxerest FzmioBa
Assezm�tn�¢ 1b_Il
Toul
F I—
M $nee, Pad. Tree A' 1 13 Aa
Mmnlanen—fP
nia.nianmm of Pa.�ilx.dnndl
87th Sneed Median Trod W 02 Ao
Mmmence of Medan
M1faimanence of FlediagOevelopeq
Llmec Cnn-
AAmiN<na�ive Cull
AnnualO mon Cua
(LCAn C011. ion C. and Co. afsemng
mnssmenu each ymr)
Mein,,C Paid by Ihvdo�wi
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Cash Nmvo
<PmPeny Value QmuW nye= 2%annually
^ Year,Intl the conmuca_ nlue goes m the I_ m11
Assemment 1nfomat10n
2010-2017
Assessment per $100,000 110.00
Resolution No. 2011—RO342
City of Lubbock TX
Finance UeparIv,I t
Valencia PIU Service Plan
E.chibit W
2011
2012
2013
2014
2015
2016
2017
2018
2019
Taub
S -
2,240,000
6,764,800
12,500,096
18.350098
21,917,100
22155,442
22.802.551
23158,602
23,258,602
-
2.D16.()()()
6088,320
11.250086
16,315,088
19,]25,390
20.1 19,898
20322,296
20.932,742
M,932.742
1,202
1,741
1,226
1,811
1,947
11.055
4.162
4,245
4,330
4,416
2011-12
20M13
200.4
2014.15
201516
2016-17
2017-18
20119
20MW
Tahb
S -
-
44
89
50
39
91
145
201
659
2216
1,092
1,325
18.10
21,698
22.132
22575
27.020
128.882
$
2.218
6.242
1;464
18$12
21932
221"
22.219
D.222
129,16
S 4%
S." 8.10 8.323 4."
- 2.123
2,M 2.040 2,081 -
2.000 2,040
500 6]3
40W 4,080
8,660
8,833
9,010
9,190
9.324
49,556
28,483
2,165
2,208
2,253
2,298
2.344
13,390
6.121
2.081
2,122
2.165
2,208
2.252
14,669
1,202
1,741
1,226
1,811
1,947
11.055
4.162
4,245
4,330
4,416
4,505
29,232
8 4.SW 14." 18,224 19,149 19,532 1919" 21,122 116.602
M7M)11 ValendePIDSI, ePlan Revise084C11 W
2118 4.459 2,512 I'm 4,548 9,"8 10,034 12.940 12,940
Property
ID Owner Name Mailing Address
6305 82nd Street
R301038 Real Property Resources Inc. Lubbock, TX 79424
6305 82nd Street
8311397 Real Property Resources Inc. Lubbock, TX 79424
Total
City of Lubbock, TX
Finance Department
Valencia Public Improvement District Assessment Roll
As of January 1, 2011
Exhibit "C"
• Estimated assessment for 2012 is based on Preliminary 2011 Market Value. The property has been classified for Ag Use in previous years, but will not be once it is developed.
7/27/2011, Page l of I
2011
2011
Preliminary
Preliminary
2012 Est.
Exemptions Property Address
Legal Description
Market Value
Taxable Value
Assessment
8701 Milwaukee Avenue
BLK AK SEC 28 AB 750 TR
AG Lubbock, TX 79424
A2 OF NW/3 ACS: 36.7685
$ 367,685
11,939
404.45
6301 82nd Street 4B
AG Lubbock, TX 79424
Spectra Lubbock Southwest LAB
670,158
869
737.17
S 1,037,843
12,808
1,142
• Estimated assessment for 2012 is based on Preliminary 2011 Market Value. The property has been classified for Ag Use in previous years, but will not be once it is developed.
7/27/2011, Page l of I